The move came after the UK, Germany and France urged Israel to save the P.A. economy, claiming it had taken 'significant' steps to combat terror financing.
The finance minister announced his intention to immediately halt the transfer of all monthly tax revenues that Jerusalem collects on behalf of the P.A.
"This is the exact opposite of what we have now in which everything is prohibited except that which is permitted. From now on everything will be permitted except that which is prohibited," Prime Minister Netanyahu says.
"Inflation is decreasing, housing prices are taking a nosedive, unemployment is at 3.3% - almost the best result in the western world," Israeli prime minister says.
“When the dust settles, it will become clear that Israel’s economy is very strong,” say Prime Minister Netanyahu and Finance Minister Smotrich following statements by Morgan Stanley and Moody's.
Israel and the United Arab Emirates finalized details for a massive free trade agreement worth hundreds of millions of dollars that builds on the Mideast allies' 2020 peace accords.
Israel’s unemployment rate fell to 4.3%; the Bank of Israel’s foreign currency reserves exceeded $100 billion for the first time ever; 69% of all electricity produced in Israel now comes from natural gas, and much more!
Israel's economic indicator soars upwards; Israeli website builder Wix.com, Google and the nonprofit Atidim are helping 10,000 businesses to set up websites; Israeli 3D printing company Stratasys is now the official supplier to the McLaren-Honda Formula 1 racing team, and much more.
Israel’s economic and technological growth over the last 20 years was “unprecedented"; Israeli private high-tech companies raised an all-time high of $4.8 billion in 2016; Chinese auto manufacturer Qoros is opening an R&D center in Israel, and much more.
The Cabinet approved Prime Minister Benjamin Netanyahu's and Foreign Minister Avigdor Liberman's plan to strengthen economic ties with the Pacific Alliance.
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